Feature

With many asset classes having been pumped up to high valuations by central bank stimulus, we are concerned that investors are no longer receiving particularly generous rewards for taking market risk.

Valuations attractive

Japan (Topix) is doing well this year in US dollar terms, up 12% compared to 11% for the S&P 500 and 13% for the MSCI World index.

Improved political visibility

Companies with high growth are worth higher price tag

We have recently been summing up our overall market view as being characterised by elevated multiples applied to cyclically high earnings.

Large caps are the place to be over next ten years

Brazil is a good illustration of why many investors remain wary of emerging market debt (EMD), despite the serious attractions of the asset class.

Three macro trends should shape the Japanese economy over the next couple of years.

Excess returns expected for US stocks